Construction Investment Projects Research Articles

Investment by Chinese Enterprise in Infrastructure Construction in Malaysia

In the context of the Belt and Road Initiative, the short‐ and long‐term development strategies of China and Malaysia are highly consistent. Malaysia attaches great importance to infrastructure construction, while China is actively strengthening connectivity with ASEAN countries, providing both opportunities and challenges for Chinese enterprises investing in infrastructure construction in Malaysia. Through an analysis of detailed case studies, we analyze the background of Chinese infrastructure investment in Malaysia, examine major infrastructure projects invested and participated in by Chinese enterprises in recent years, identify the challenges to investment projects in infrastructure construction, and track the Sino‐Malaysian responses to these investments. This article gives perspective to the trends of Sino‐Malaysian relations in these investment activities.

Construction and Application Practice of Early Warning Model for Investment Progress of Electricity Grid Construction Projects

As the reform of transmission and distribution prices moves from the “construction mechanism” to the “strong supervision” stage, the authenticity and effectiveness of the grid investment plan implementation during the supervision cycle will definitely be the focus of external supervision. This will also directly affect the approval of the permitted revenue of grid companies in the next regulatory period. This paper takes the 110kV and above electricity grid construction projects as the research object, and constructs an early warning model for the progress of investment in electricity grid construction projects to identify and quantify the management and data problems existing in the project construction process, promote collaborative management of electricity grid construction projects and improve the authenticity and reliability of investment completion statistics.

Study on Risk Assessment of Inland Nuclear Power Investment Construction Projects by Kazakhstan

This article is the first attempt to conduct a comprehensive evaluation of Kazakhstan’s inland nuclear power investment construction projects. Based on the summary of existing research results of scholars at home and abroad, a systematic analysis of the sustainable development model is made from the following four aspects to conduct safety evaluation research on domestic nuclear power construction in Kazakhstan: 1) Probabilistic safety evaluation for Kazakhstan’s inland nuclear power construction; 2) Public perceived risk evaluation for nuclear power construction in Kazakhstan; 3) Economic evaluation for recirculating systems of spent fuel; 4) Benefit risk evaluation for Kazakhstan’s inland nuclear power construction. Based on China’s multi-criteria decision analysis of dynamic system modeling, we add noise to the uncertain factors of the safety evaluation of Kazakhstan nuclear power investment projects and then perform noise reduction to refine our evaluation results. First of all, due to the non-convex optimization of tensor decomposition, there is no guarantee that the factorization will be determined by optimization. In addition, tensor decomposition can converge to different local optimal values corresponding to different initial values of the two tensors. Therefore, if the initialization value is set correctly, the result will be approximately optimal compared to the case where the initial value is far from the global optimal value.

The Mechanism for Managing Energy-Efficient Low-Rise Investment and Construction Projects Based on Public-Private Partnerships

The housing issue in Russia today is the most important and currently topical, since there is a great need for new housing, due to the significant number of people who need housing, as well as the need to solve the problem of relocating citizens from the dilapidated (emergency) housing stock. An analysis of the current scientific literature indicates poor knowledge of the issues of investment and construction projects aimed at low-rise housing construction, namely: imperfection of the regulatory framework on the issue under consideration, insufficient literature on low-rise housing construction. A detailed study also requires the issues of organizing the process of low-rise construction, developing the mechanisms for managing low-rise construction, construction of the housing that meets the necessary requirements of availability, safety, comfort, energy efficiency and environmental friendliness. The article discusses the issues related to evaluating the operational, organizational and investment attractiveness of investment-construction projects of the low-rise construction necessary for development of a mechanism of managing the investment-construction projects on the basis of the public-private partnership in terms of the implementing the project of low-rise housing on the basis of public private partnership for large-scale housing development in the suburbs of Tomsk.

MECHANISMS OF ECOLOGICAL AND ECONOMIC STIMULATION FOR ACTIVIZING THE TRANSITION TO BIOSPHERE COMPATIBLE CONSTRUCTION

The growth rate of construction projects implemented on the basis of traditional approaches to a market economy, with its loyal attitude to the uneconomical use of natural resources, is constantly growing. Along with this, the transition complexity degree of construction to the rails of sustainable development increases, taking into account the interests of future generations and solving a number of environmental problems that are only exacerbated. Recycling of building materials and structures is one of the transition drivers to biosphere-compatible construction. One of the key problems in the transition of construction to a biosphere-compatible model is the significant difference between the cost of implementing traditional and green, sustainable projects. Since market participants do not deny the need for transition, but do not want to act, it is necessary to determine the mechanisms of economic stimulation of this transition. The article discusses the basic principles and objectives of the transition to biosphere-compatible construction, as a process of design, construction and operation of a building project, taking into account the requirements of the sustainable development concept. The main organizational, technological and environmental-economic principles of the implementation of the biosphere-compatible construction concept are formulated. A hierarchy of structural elements of the transition to biosphere-compatible construction has been formed. Thus, the basis was created for the formation of a consistent and clear strategy for the transition of construction to the principles of sustainable development based on biosphere compatibility. A list of factors that are economic barriers to the transition to biosphere-compatible construction has been developed. A mechanism has been developed for environmental and economic incentives for developers to implement precisely projects, through the introduction of the so-called green cost premium, which is a measure of the effectiveness of recycling technologies, which are embedded in architectural design and organizational and technological solutions of the construction investment project.

Management of innovative investment projects in housing construction

Introduction. Housing innovation and investment projects can be characterized as projects that, with relatively small investments, can create competitive products, real increase in investment potential and investment resources of a construction organization. In modern conditions it is also necessary to strive to ensure that the implementation of innovative projects aimed at improving the economic efficiency of construction does not lead to a decrease in the quality of construction products (reliability of structures, attractiveness of architectural and structural solutions of buildings). Regardless of the direction of movement in business, the leaders of construction organizations, in the presence of interest in the development of the company inevitably come to understand the need for improvement and development of methods of managing innovative projects. This contributes to the formation of an effective corporate system of management of construction projects, adequate to the conditions prevailing in the domestic market of construction services and takes into account the peculiarities and specificity of a particular region. It should be noted that if at the level of departments (IT-orientation), or certain types of projects (for example, research and development) project management methodology is used very actively in the construction industry, then at the level of program and project portfolio management, determining their priorities, portfolio balancing etc. theoretical and practical research is not enough.The purpose. The purpose of the study is to develop theoretical provisions for managing the implementation of innovation and investment projects in housing. Results. The peculiarities of the management of innovation-investment projects in housing construction in the management of several projects are revealed. The complexity in planning and organization of interaction of various subjects (participants) of innovation-investment projects is determined. It is suggested to take into account the degree of risk in the process of implementation of innovation-investment projects. The factors influencing the effectiveness of innovation investment projects have been clarified. The directions of development of the structure of the corporate system of management and state regulation of the innovation-investment sphere of housing construction are determined. Discussion. Prospects for further research are to develop a methodology for forming an information complex of corporate project portfolio management system, which includes a set of normative documents, as well as a set of tools and methods for managing innovative projects that ensure the effective implementation of different projects of the organization under the same rules at different stages of their life cycle, allowing to improve project management system, to extend the managed range of the project lifecycle, to increase the level of integration and specialization of the Management Center.

Economic mechanism of risk management of investment projects in housing construction

The article reveals some problems of risk management of investment activity of construction companies.The features of construction as a branch of production are defined, which are as follows: the long-term nature of investments in construction, a significant time gap between the moment of making investments and the moment of earning, as well as the risks of uncertainty of innovative activity. Their totality forms an extremely unstable environment for construction companies. The existing risk classifications by the following categories and features are considered: by the nature of economic activity of a construction organization (which in turn is divided into production, investment, innovation, commercial, etc. should separate relevant risks); the degree of controllability of the risks of a construction organization should be divided into unmanaged, hard-managed, well-managed; the source of risk factors should distinguish between the risks of the external and internal environment. The stages of the process of risk management of investment project activity in conditions of environmental uncertainty are presented: analysis of the external and internal environment of the investment project; determining the probability (frequency) of the event; Identifying the extent and magnitude of investment risk; determination of consequences of manifestation of risks (increase in prices of works, losses, increase of duration of construction, etc.); the choice of the necessary methods of minimizing the negative consequences, primarily aimed at reducing financial and other losses.The peculiarities of investment activity in the sphere of construction, the main risks in the implementation of investment projects are considered. There are various approaches to managing the risks of investing in the construction of construction projects. Integrated use or combination of the proposed methods and tools allows to increase the economic security of the implementation of risky investment projects, as well as to achieve and further maintain an acceptable level of risks of the investment activities of the organization.

Features of the audit of construction enterprises

The article defines the legal basis of the audit in Ukraine, theoretical approaches to the audit of construction companies, the issue of assessment by the auditors of the risks associated with the implementation of a project for housing construction. A construction audit is an independent assessment of both the financial and technical indicators of a construction investment project. This procedure involves checking the quality of construction work, determining the actual value of the object and the actual volume of construction.Building auditing is part of the management system and one of the most important components of the ISO 9001 quality system. As part of the funding expansion strategy, the audit of the organization is carried out as part of the audit in other areas of activity. Audit is conducted in two key areas: organization audit, project audit. It is determined that the construction audit is aimed at the study of common costs and pricing analysis, it is carried out at each stage of construction of the construction object. This process allows to identify the real volume of work, to determine the cost of finished products, to determine the quality of work performed at all stages of construction, to identify deviations from the project of the construction object.Audit of construction organizations is carried out in accordance with the general principles, but has its specificity, related to the legal form and features of the industry to which the contracting entity belongs, namely: regulatory regulation of the cost of construction works, features of determining the financial result of construction contracts , the presence of risks associated with the activities of construction companies. Audit in construction companies can be both proactive and mandatory. The main purpose of an audit in a construction organization – reliable, real and objective information about the implementation of construction contracts. Construction audits are carried out both on a separate site during the entire construction process and in a continuous manner by controlling all costs.In this article the main tasks of the audit of financial results are summarized and systematized, its peculiarities and main problems are defined, the recommendations on improvement of audit of financial results of construction organizations are given.

Ways to improve the efficiency of investment projects in construction

Ways to improve the efficiency of investment projects in construction

Management of sustainable development of territories through the reproduction structure of large investment construction projects

The infrastructure spatial planning is at the heart of modern sustainable development issues. The methods for selecting an infrastructure project for construction are an important conceptual basis for sustainable development, which provide effective assistance to the development of territories. The study is aimed at finding and analyzing existing approaches and tools for assessing territorial development in the reproductive structure of the economy, as well as developing a methodological and procedural assessment of large infrastructure projects to solve socio-economic problems. The methods of analysis of causes and effects, as well as methods of investment planning are used. At the same time, according to the authors, the main conceptual and methodological prerequisite that distinguishes the proposed approach should take into account the effects of intersectoral interaction. It is necessary to assess the contribution to the sustainable development of territories “with a project” and “without a project”.

Effectiveness of Joint Venture for Local Contractors in a Mega Project Construction

Mega Construction Projects are defined as a very large investment construction project, or aggregate of projects, characterized by magnified cost, extreme complexity, increased risk, lofty ideals, and high visibility, in a combination that represents a significant challenge to the stakeholders, a significant impact to the community and pushes the limit of construction experience. The main objective of this study was to assess effectiveness of joint venture for local contractor to construct a mega project construction. The specific objective of this study was to determine the effective way of formation and implementation procedure, to determine legal procedures and steps of joint venture between local contractors, to analyze different kinds of joint venture among local contractors and to analyze risk of joint venture among local contractors to construct a mega project construction. The study used both qualitative and quantitative research, and data collection method used was interview, close ended questionnaires’, different books, articles, and web sites. The study uses also purposive sampling technique. The study revealed that the most motivation factor and reason to form a Joint Venture in construction is to obtain technology transfer, the most selection criteria to select a construction JV partner is ability, experience and skills of JV partner and to succeed in JV performance a JV management should be strong. The study indicated that some of the articles form the commercial code explains about JV need an amendment. The study also indicates legal issues should be considering in Ethiopian commercial code to facilitate formation construction JV. This study also revealed the best JV type suitable for local contractors to establish domestic JV is a contractual JV type. Finally, the study shows that the most factors to create a problem in construction JV is unclear partner roles and the dominant risk factor associated with construction JV is partner parent company in financial problem. Also, the study came up with conclusion that the existing legal norm context about CJV should be revised with amendment of some of the articles from the existing commercial code of Ethiopia.

Attitude of construction workers toward labour safety

The construction industry has one of the most dangerous working environments among various professions. Workers in construction investment projects account for a large component of the costs, and there are many risks to labour safety. Therefore, ensuring that workers are not injured and aiming for zero labour accidents is a significant imperative and challenge for project managers and construction workers. Ensuring safety during construction work contributes to the success of a project. This paper presents a study of worker attitudes toward labour safety. The research was conducted by using an expert interview approach and questionnaire survey in order to find out which factors influence construction worker attitudes about labour safety conditions. Factor analysis found five factors that affect the attitudes of workers toward labour safety: 1) organisational policy; 2) communication; 3) risk acceptance; 4) psychology; 5) equipment monitoring and management.

Attitude of construction workers toward labour safety

The construction industry has one of the most dangerous working environments among various professions. Workers in construction investment projects account for a large component of the costs, and there are many risks to labour safety. Therefore, ensuring that workers are not injured and aiming for zero labour accidents is a significant imperative and challenge for project managers and construction workers. Ensuring safety during construction work contributes to the success of a project. This paper presents a study of worker attitudes toward labour safety. The research was conducted by using an expert interview approach and questionnaire survey in order to find out which factors influence construction worker attitudes about labour safety conditions. Factor analysis found five factors that affect the attitudes of workers toward labour safety: 1) organisational policy; 2) communication; 3) risk acceptance; 4) psychology; 5) equipment monitoring and management.

Digitalization of design and construction of agricultural facilities as a basis for ensuring their energy efficiency

Energy saving and energy efficiency in modern conditions are an imperative of a stable evolutionary stage in the development of the country’s investment and construction complex, while at the same time creating sustainable competitive advantages for both energy producers and its consumers when implementing a construction investment project. The use of digital technologies is postulated as one of the main resources of energy efficiency. The paper systematizes the resources and effects that are formed as a result of increasing the energy efficiency of construction projects in the agricultural sector. The paper substantiates the necessity and specifics of the information modeling technology application to increase the energy efficiency of objects, and also determines the results of the use of digital technologies, differentiating costs and effects.

Determinants of the construction investment project management performance: Evidence at Vietnam small and medium sized enterprises

Determinants of the construction investment project management performance: Evidence at Vietnam small and medium sized enterprises

Use of Information Model in Creating the Investment-Construction Project

The use of information modeling technology in creating the investment-construction object provides a number of advantages to design, construction and operating organizations. Leading development companies should be transformed into a kind of IT-structure. In this regard, construction companies that develop their own strategies for switching to digital technologies and generate digital assets should, first of all, create the basis for their functioning - the integrated information model of the object - the BIM model. The latter includes all sections of the project and contains reliable and relevant information about the existing physical object. The concrete examples in this article show the results of the successful implementation of this approach in relation to capital construction projects of varying complexity.

Integration of the supply system in design

The article discusses ways to obtain positive effects when integrating the supply system into the design during the implementation and completion of the investment-construction project. The use of the principles of centralization and decentralization with the distribution of the main functions of the parent and subsidiary construction organizations is proposed. The improving mechanism for the material and technical supply system is consolidated according to principles of planning, organization, and control. The stages of a supply system integration into the building design are proposed during the implementation of the investment- construction project. The proposed mechanism allows you to plan the work of the supply system during the construction period, reduce the time frame for the implementation of the investment-construction project and obtain savings in financial resources.

Urban Housing Construction: International Experience of Investment Attraction

The main hurdle for the expansion of housing construction is the lack of financial resources at the beginning of the investment cycle, thus making it necessary to borrow and take out loans. Housing construction is extensive in developed countries due to well-established and reliable investment mechanisms, primarily through bank loans. Conversely, funds are lent in Russia at high interest rates, while weak risk management technologies and loopholes in the assessment of technical factors of investment construction projects restrict possibilities of domestic banks. The study aims to analyze international experience of drawing investment in urban housing construction. In the article, we analyzed scientific books about how to draw investment in housing construction. We have determined main features of investment models for housing construction and investment models for housing construction that are in use abroad.

An innovative model for managing the effectiveness of investment projects in construction

The article discusses the current issues of managing the effectiveness of investment projects in construction based on the innovative approach. An innovative model for managing investment construction projects based on the organizational and economic approach is proposed.

On the issue of public-private partnership in housing construction in the Belgorod region

The article discusses the opportunities and prospects for the use of public-private partnership (PPP) tools for the implementation of investment projects in housing construction in the Belgorod region. The application of the PPP concept will allow to attract additional investment resources to the region, will provide an opportunity to strengthen its competitive advantages and unleash innovative potential.